Legacy Foundation

Analysis

Legacy Foundation is a registered charity in United States, based in Montgomery, AL. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Legacy Foundation reported income of $20.1m and spending of $3.6m, leaving 82% of income unspent that year. Across the 3 years on record, from September 2021 to September 2023, income fell from $60.0m to $20.1m (-67%), an average of -42% a year. The sharpest change came in the year to September 2022, when income dropped by 101%. Over the whole period it spent 5.8% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Legacy Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within AL. Charities of a similar size with the same main cause include Kansas City Symphony ($20.0m), Childrens Museum of Minot Inc ($20.1m) and San Francisco Special Events Committee ($19.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $74.6m against liabilities of $0, net assets of $74.6m.